Shiba Inu Investors on Edge: Will Support at $0.000025 Hold?
The past week has been challenging for Shiba Inu (SHIB) holders as the meme-inspired cryptocurrency saw a sharp price decline. After an impressive 100% surge earlier in November, SHIB’s price dropped approximately 23% over the last nine days, hitting a critical support level at $0.000025 per token. Although the decline may seem alarming, it opens up potential opportunities for investors. The drop, which amounts to less than one-third of the previous rally, indicates a healthy market correction. More importantly, SHIB’s ability to maintain support at $0.000025 suggests it could be poised for a fresh upward move. Related article: SHIB Price Prediction: Analyst Forecasts 150% Rally to $0.000074 Key Support Level Holds Strong The support level at $0.000025 remains crucial for SHIB’s future price movement. Liquidity is heavily concentrated around this area, particularly following the December 10 price drop. Source: CoinMarketCap Traders and investors now view this point as a pivotal zone, with the 50-day simple moving average (SMA) lending further support at this price level. This alignment strengthens the case for a potential rebound. Bollinger Bands Signal Possible Price Movement Technical analysis reveals another key factor to watch—the Bollinger Bands indicator. According to this tool, SHIB’s price could slip to $0.00002456, where the lower band currently sits. While this would represent an additional 4.4% drop, it might not be all bad news. Related article: Shiba Inu Burn Rate Skyrockets by 319,571% – What’s Fueling the Surge? If SHIB finds a local bottom at this level, it would still form a higher low than the one recorded earlier in December. This higher low would keep the bullish bias intact, giving investors hope for an eventual recovery. While SHIB’s recent price action has caused concern among holders, there’s a silver lining. The current correction appears to be part of a healthy market cycle. If the price maintains support at $0.000025 or finds a bottom near $0.00002456, the stage could be set for a bullish resurgence. For now, investors are watching closely to see where SHIB’s next move will lead.
XRP Price at a Crossroads: Can It Reclaim Bullish Momentum?
XRP’s earlier bullish breakout has hit a roadblock, with its price performance now appearing stagnant. Despite a breakout from a descending triangle—a traditionally bullish signal—the upward momentum has weakened. On-chain data suggests that network activity is also slowing, raising concerns about the token’s future price trajectory. Key Price Levels and Technical Analysis After a promising surge toward $2.57, XRP’s upward drive has faltered. Support currently sits at $2.53, with the 50-day Exponential Moving Average (EMA) acting as a crucial support buffer. If XRP fails to stay above this level, it faces a possible decline toward the next key support at $1.145. Source: CoinMarketCap On the flip side, a breakout above the $2.60 resistance could reignite bullish sentiment. This resistance level remains a key focal point for traders eyeing a renewed uptrend. XRP’s on-chain metrics reveal a sharp decline in payment volume, dropping from a high of three billion XRP to under 300 million. Related article: $4.20 XRP Target Gains Credibility Amid Historic Price Breakout This significant reduction in activity hints at waning investor interest. In addition, the number of active accounts (unique senders) has decreased, failing to maintain the momentum seen in early December. The volume of XRP burned as fees—a key measure of network usage—has also plummeted, reflecting reduced transaction volume. Potential Risks and What’s Next for XRP The decline in on-chain activity could undermine XRP’s bullish case unless usage picks up. Maintaining support at $2.13 remains vital to avoid a steeper correction. Without renewed buying pressure or increased on-chain activity, XRP risks entering a prolonged consolidation phase or experiencing further price retracement. Related article: Over $272 Million in XRP Shorts Could Face Liquidation at $3 Traders are closely watching the $2.60 resistance as a potential breakout point. If XRP fails to sustain the 50 EMA, a test of the $1.145 support becomes more likely. XRP’s future now hinges on both technical strength and a resurgence in network activity. Investors are monitoring the token’s ability to hold the $2.13 support and reclaim the $2.60 resistance. With usage metrics declining, XRP’s next move could define its short-term market position. If on-chain activity rebounds, a bullish resurgence could follow. However, without fresh demand or a spike in transaction volume, XRP’s price may face further pressure.
Shiba Inu Burn Rate Skyrockets by 319,571% – What’s Fueling the Surge?
The SHIB community has recently shown remarkable commitment to reducing the circulating supply of meme coins, with a massive surge in the SHIB burn rate. According to data from Shibburn, the burn rate has spiked by an astonishing 319,571.27%. Over the past 24 hours, a total of 35,713,674 Shiba Inu tokens were burned, permanently locking them in unspendable wallets. This significant burn activity indicates the community’s strong effort to enhance SHIB’s scarcity. Top SHIB Burns and Major Transfers Among the many burns, three large transfers stood out, each removing millions of SHIB from circulation. The biggest of these transfers included 15,546,918 SHIB, followed by 11,196,225 SHIB and 8,804,670 SHIB. The community continues efforts to reduce SHIB’s supply, aiming to boost its long-term value. Weekly burn data shows a 94.31% decline, though 138,987,010 SHIB were still burned, offering hope. Despite the drop, the community has burned a significant 138,987,010 SHIB over the past week. Related article: Shiba Inu (SHIB) Ranks High on MetaMask Despite Slowing Rally This decline contrasts with the efforts made on Monday, when an anonymous whale sent 20,035,968 SHIB to a dead wallet in a single transaction. Such moves continue to play a crucial role in reducing the overall circulating supply. SHIB’s Price Performance Amid Bitcoin’s Surge Meanwhile, Bitcoin has reached a new all-time high of $107,780, drawing attention in the crypto market. However, despite Bitcoin’s surge, SHIB’s correlation with BTC seems to have weakened. Related article: Shiba Inu Faces Mixed Signals: Rising Price but Declining Burn Rate SHIB, which had a solid recovery of over 22% last week, has since been struggling to break past the resistance at the $0.00002822 level. As of now, SHIB trades at $0.00002738, reflecting a slight 2% increase today but still following a downward trend from its recent highs. While SHIB’s price and burn activities show some volatility, the community’s dedication to reducing the token supply continues to grow, fostering hopes for future price improvements.
XRP Soars by 13% Following Ripple’s Stablecoin Announcement
XRP’s price soared 21% in the past week and 13% in the last 24 hours, reaching $2.69. The surge aligns with the launch of Ripple’s new stablecoin, Ripple USD (RLUSD), on its network. Though Ripple Labs—founded in 2012—denies issuing XRP, the market sees a connection. Traders link positive developments for Ripple, like New York’s approval of the RLUSD stablecoin, to XRP price hikes. Alex Obchakevich, founder of Obchakevich Research, highlighted XRP’s strong performance. “XRP showed the largest growth among the top 10 cryptos, far outpacing Bitcoin’s 10% increase,” he stated. He also predicted a bullish future, saying, “Once XRP clears the $2.60 resistance, it’s likely heading toward $4.” Source: CoinMarketCap Investor Sentiment and ETF Speculation Investor sentiment around XRP remains strong, partly fueled by speculation about a potential XRP exchange-traded fund (ETF). Wintermute’s over-the-counter trading desk principal, Jake Ostrovskis, noted that retail investors recognize XRP’s potential. He linked the excitement to growing optimism about a possible ETF launch under the new U.S. administration. Related article: XRP Market Shaker: Massive Whale Movement Sparks Buzz Recent filings from New York asset manager WisdomTree have fueled speculation. By registering interest in launching an XRP spot ETF, WisdomTree joined a growing list of firms betting on the token’s potential. Bitrue exchange’s chief marketing officer, Adam O’Neill, predicted an all-time high for XRP by Q1 2025. He attributed the rise to improving regulatory clarity and the anticipated demand for XRP ETFs. “XRP’s regulatory battles seem to be behind it, and Trump’s pro-crypto stance strengthens its future,” O’Neill noted. Media Buzz and Price Growth XRP’s 400% price increase over six weeks caught the attention of both crypto-focused and mainstream media. The heightened coverage further bolstered investor interest. Related article: Could XRP Surpass the $4 Mark? A $100 Million XRP Accumulation by Whales Ripple’s RLUSD stablecoin is set to launch today, with many analysts linking it to the recent price surge. Obchakevich sees RLUSD as a key growth catalyst, predicting it will enter the top 100 cryptos with a $1 billion market cap within days. “This launch strengthens Ripple’s market position,” he said. Ripple USD transactions burn small amounts of XRP as gas fees, reducing supply over time. O’Neill expects this mechanism to increase XRP’s scarcity and support higher prices. He emphasized the connection between XRP and RLUSD’s successes, saying investors have taken notice of their intertwined growth potential.
Dogecoin’s Next Move: Will It Break the $0.50 Barrier?
Dogecoin’s on-chain activity has surged, with average transaction sizes seeing a dramatic rise. On November 12, 2024, the average transaction size hit a seven-day peak of $33,411, while the seven-day average hovered around $11,960. This shift indicates a growing presence of larger transactions on the network, pointing to possible interest from institutional investors or cryptocurrency whales. Volatility Climbs to Elevated Levels Dogecoin’s market volatility has also seen a significant increase. The 30-day volatility reached 147%, reflecting heightened price fluctuations. Historically, such elevated volatility often signals the likelihood of sharp market movements, which could result in either a substantial rally or a major price correction. Related article: DOGE Whales Accumulate 210 Million Tokens Amid Price Drop Following a strong rally in early November, Dogecoin’s price reached approximately $0.40 before entering a consolidation phase. The asset faced resistance near $0.48, leading to a downward movement within a descending channel. Source: CoinMarketCap Key support levels include the 50-day EMA and the $0.35 price point. If Dogecoin fails to hold these levels, it could see a decline toward the 200-day EMA at $0.21. Bullish Breakout Could Trigger a Rally On a more optimistic note, Dogecoin could regain bullish momentum if it breaks above the descending resistance trendline. Traders are closely watching the $0.42 to $0.45 price range for signs of a breakout. A successful push above these levels might pave the way for a rally toward the psychologically important $0.50 mark. This price point serves as a critical milestone for DOGE’s upward trajectory. Related article: Dogecoin Price Surge Predicted: Analyst Expects DOGE to Reach $3-$5 Soon While Dogecoin’s growing transaction sizes and heightened volatility suggest rising market activity, concerns remain. The asset’s inability to sustain previous highs and its relatively low volume raise questions about the strength of any potential rally. A significant increase in trading volume could signal the start of a fresh upward trend. Additionally, broader market conditions within the cryptocurrency sector will play a crucial role in determining if DOGE can reclaim its previous highs.
XRP Market Shaker: Massive Whale Movement Sparks Buzz
A significant movement of XRP has been recorded on the blockchain, with on-chain data revealing that 800 million XRP, valued at approximately $1.93 billion, was transferred from Binance to an unidentified wallet. The transfer, flagged by blockchain tracker Whale Alert, is one of the largest recent XRP outflows from a centralized exchange to an external wallet. Growing Trend of Large XRP Transfers On December 13, unknown wallets moved 60 million XRP worth $144.67 million. A day earlier, unidentified wallets transferred 99.99 million XRP valued at $234.45 million. Such high-value transactions often suggest activity from institutions or crypto whales. Several theories have emerged to explain the recent shift. One possibility is that holders moved the XRP stash to cold storage for enhanced security. This move often signals bullish sentiment, reflecting confidence in XRP’s long-term value. Related article: Warning Issued to XRP Community Before RLUSD Stablecoin Launch Another theory points to potential internal operations by Binance. Exchanges frequently transfer funds for purposes like liquidity management, wallet maintenance, or other operational needs. Additionally, some speculate that a major investor or “whale” may be positioning themselves ahead of significant announcements or price shifts. Ripple’s RLUSD Stablecoin Launch Adds to Speculation The timing of the XRP transfer aligns with heightened anticipation for Ripple’s RLUSD stablecoin launch. Ripple recently received regulatory approval from the New York Department of Financial Services (NYDFS) to introduce the RLUSD stablecoin. This development has fueled speculation that the XRP movement might be linked to upcoming announcements or market positioning. Related article: XRP Rises 300% in 30 Days: Key Indicator Suggests Another Move The transfer of 800 million XRP from Binance to an unknown wallet has sparked interest and debate within the crypto community. While the exact reason remains unclear, the timing and scale of the transaction have fueled various theories. Whether it signals institutional positioning, whale activity, or Binance’s internal processes, the crypto world will continue to watch for further developments.
SHIB Burn Rate Surges as 20 Million Coins Removed from Supply
The SHIB community burned over 20,035,968 Shiba Inu (SHIB) coins in the past 24 hours, data from Shibburn reveals. Their collective efforts spiked the burn rate by 1,987% overnight. Despite this activity, SHIB’s price remained unaffected, even as Bitcoin surged to a record high of $106,488. Instead, SHIB’s value declined by nearly 4% within the same period. Two Major Transactions Lead the Burn Effort The total burn of 20 million SHIB was powered by two major transfers. The largest transaction destroyed 11,196,225 SHIB, while the second-largest burned 8,804,670 coins. These burns significantly contributed to the daily removal of tokens from the circulating supply, reinforcing the community’s ongoing commitment to increase SHIB’s scarcity. While daily burns saw a significant spike, the weekly burn data revealed a contrasting picture. Over the past week, SHIB’s burn rate plunged by 92.69%. Related article: SHIB Adoption Surges as Bitget Wallet Integrates Shibarium for 40M+ Users However, the total number of tokens burned during the week was still significantly higher than the 24-hour total, with 175,061,914 SHIB burned in the past seven days. This figure is nine times greater than the amount burned in the last 24 hours. SHIB Burn Progress Since Inception Since its launch, the SHIB community has successfully burned a massive 410.74 trillion SHIB from its initial supply of one quadrillion. This achievement is attributed to efforts from the SHIB community and support from Ethereum co-founder Vitalik Buterin, who contributed to early burns. Related article: SHIB Price Prediction: Analyst Forecasts 150% Rally to $0.000074 Currently, 584.02 trillion SHIB remain in circulation. Many SHIB holders continue to press the developer team to increase the burn rate, believing that a smaller supply will boost the token’s value. The goal for many in the community is to see SHIB’s price reach $1 per token. However, lead developer Shytoshi Kusama and the SHIB team have reiterated that burn speeds depend on Shibarium’s activity levels. As Shibarium’s utility increases, more gas fees are paid in BONE, and more SHIB tokens get burned as part of those fees. The SHIB community’s ongoing burn efforts aim to create a more scarce and valuable asset. While recent daily burn figures are impressive, weekly data indicates a slowdown. Nevertheless, with more community participation and increased utility on Shibarium, SHIB’s burn rate may accelerate, moving closer to the community’s ambitious $1 price target.
Charles Hoskinson Addresses Network Security Misconceptions
Ethereum Foundation researcher Justin Drake’s recent comments on Cardano’s security model have drawn a response from Cardano founder Charles Hoskinson. Speaking on the Paul Barron Network show, Drake discussed Ethereum’s proposed Beam Chain upgrade. The upgrade aims to enhance Ethereum’s consensus layer with faster finality and zero-knowledge proof integration. During the show, Drake addressed questions like, “Is liquid staking an immediate threat to Ethereum?” and “Is Cardano’s staking model superior to Ethereum’s?” These discussions sparked misconceptions about Cardano’s security model, prompting Hoskinson to clarify the network’s unique approach. Hoskinson Highlights Bitcoin-Inspired Security Model Hoskinson responded to Drake’s claims via a post on X, stating, “I guess he doesn’t understand how Nakamoto consensus works or Ouroboros, for that matter. Cardano’s security model was inspired by Bitcoin’s design. We don’t have BFT-style rounds.” This statement emphasized the difference between Cardano’s security model and traditional Byzantine Fault Tolerance (BFT) protocols. Unlike BFT protocols, Cardano’s security approach avoids the need for slashing—a mechanism used in Proof-of-Stake (PoS) networks like Ethereum to penalize validators for infractions such as double signing. Instead, Cardano achieves 50% Byzantine resistance, further strengthening its security framework. Cardano’s Finality Approach Sets It Apart One key distinction is Cardano’s method of finality. Unlike Ethereum, Cardano’s network does not finalize two conflicting checkpoints. Theoretical discrepancies can be resolved within 36 hours, but in practice, most issues are resolved in just 40 seconds. Related article: Cardano (ADA) Exclusion Sparks Criticism from Hoskinson on Blockchain Bias This efficient process demonstrates the robustness of Cardano’s network, challenging misconceptions about its staking model. Hoskinson also noted his surprise at the Ethereum research community’s apparent disregard for Cardano’s advancements. Despite Cardano’s seven-year presence, Ethereum’s scientists have not engaged with its research. This lack of interaction has led to misunderstandings about Cardano’s capabilities and its approach to network security. Community Corrects Misconceptions X users joined the discussion by clarifying the Paul Barron Network’s portrayal of Cardano’s staking model. They highlighted that Cardano’s system does not rely on slashing. Instead, its consensus mechanism avoids inconsistencies that would require punitive measures. Related article: Charles Hoskinson Unveils Key Updates in Hydra Development Unlike Ethereum’s reliance on slashing to discipline validators, Cardano’s design prevents the need for it altogether. These clarifications underline a fundamental difference between Cardano’s and Ethereum’s staking models. Cardano’s method provides a more stable and secure network, rooted in principles inspired by Bitcoin’s original design. This approach strengthens its position in ongoing debates about blockchain security and finality.
Shiba Inu Faces Mixed Signals: Rising Price but Declining Burn Rate
The cryptocurrency market is witnessing renewed growth, with the combined market cap rising 5.06% to $3.62 trillion. Shiba Inu (SHIB), the second-largest meme coin, is riding this upward trend. SHIB’s price increased by 7.05% in the last 24 hours, reaching $0.00002926, according to CoinMarketCap. However, while SHIB’s price shows promise, there’s a notable twist in its growth narrative. Disparity in Trading Volume and Burn Rate Data reveals a discrepancy between SHIB’s trading volume and its burn rate. On one hand, SHIB’s trading volume surged 7.6% to $1.46 billion. On the other hand, Shibburn’s data shows a significant drop in the burn rate, with only three million SHIB tokens burned in 24 hours. Related article: Shiba Inu (SHIB) Shows Signs of Recovery After Recent Price Dip This represents a steep 78% decline in the burn rate. Since the burn rate reflects the community’s long-term commitment to reducing supply, its slowdown could hinder SHIB’s rebound potential. A robust burn rate often sustains investor optimism, which, in turn, supports the token’s price momentum. Market Recovery Amid Whale Activity Shiba Inu’s overall market activity shows signs of recovery after a tough week marked by widespread sell-offs. Earlier panic selling, driven by SHIB whales, temporarily shook investor confidence. However, the gradual return of these whales is now driving renewed demand for SHIB. This shift is contributing to the broader price recovery in the market. Growing anticipation for upcoming product launches has further bolstered community engagement. Shytoshi Kusama’s messages on X (formerly Twitter) continue to inspire hope within the ShibArmy community, keeping investors optimistic. Related article: Shiba Inu Eyes Critical Resistance as Market Volume Declines Unlike traditional meme coins driven by hype, Shiba Inu’s ecosystem has evolved significantly. The launch of Shibarium, a layer-2 scaling solution, showcases SHIB’s progress toward offering real-world utility. Through products like staking and a more robust blockchain infrastructure, SHIB aims to establish itself as a serious player in the crypto space. With these innovations, SHIB seeks to achieve its next major milestone and drive further price surges. For now, investors remain watchful as trading activity and the burn rate continue to play pivotal roles in its future trajectory.
Ripple’s RLUSD Stablecoin Gains Traction, XRP Hits New Highs
Ripple obtained approval from the New York Department of Financial Services (NYDFS) to launch its RLUSD stablecoin. This development fueled a 9% surge in the XRP token’s value over the past 24 hours. The token’s price rebounded from a significant dip, climbing from $2.30 to $2.70. CEO and Market Reactions Ripple CEO Brad Garlinghouse hailed the NYDFS approval as a pivotal milestone. He announced that exchange and partner listings would soon follow, creating further excitement within the market. Meanwhile, FOX Business journalist Eleanor Terrett reminded X users of her early report on Ripple’s stablecoin plans, first revealed on November 29. She had speculated on a possible launch date of December 4. Although RLUSD has not launched yet, Garlinghouse assured investors that Ripple would provide the first official announcement. Related article: XRP: Ripple’s CLO Criticizes SEC’s Crenshaw Amid Controversy The stablecoin’s release aims to challenge the dominance of industry leaders Tether’s USDT and Circle’s USDC, signaling a potential shake-up in the stablecoin sector. XRP Price Performance and Market Data According to CoinMarketCap data, XRP’s price has soared by 287.07% over the past 30 days, with its current value standing at $2.30. Despite the rally, the token remains 40.15% below its all-time high of $3.84, which it achieved in January 2018. The surge in XRP’s price correlates with growing anticipation for the RLUSD launch and an emerging partnership between the XRP Ledger and Cardano ecosystems. Related article: Ripple’s “Lock In” Message Ignites Buzz in the XRP Community Technical analysis suggests a shift in market sentiment. The XRP Relative Strength Index (RSI) currently sits at 62.03, indicating bullish control. However, the RSI’s trajectory hints at potential price declines due to increasing bearish pressure. Furthermore, the Moving Average Convergence/Divergence (MACD) indicator confirmed a bearish divergence. The signal line crossed above the MACD line, while the MACD histogram turned red, signaling possible downward momentum for XRP.
